Hyperliquid Strategies Inc. plan for $583M treasury boosts HYPE price

Key Points

1. Sonnet BioTherapeutics and Rorschach are launching a $583 million Hyperliquid (HYPE) digital asset treasury, including 12.6 million HYPE tokens and $305 million in cash for future acquisitions.

2. HYPE price faces resistance at $50, but bullish indicators like upsloping moving averages and RSI near $45.80 suggest potential for a breakout.

3. A drop below the 20-day exponential moving average ($42.93) could weaken bullish momentum, while a break below the 50-day SMA ($38.86) may signal a short-term top.

4. On the 4-hour chart, buyers need to push HYPE above $50 to gain control, potentially targeting $60, while a drop below the 50-SMA could lead to a correction to $41.